Wed, 23 Feb 2011 | ADMINISTRATION
Administrators have been brought in to seek a buyer for East London-based Alito Color Group.
Andrew Andronikou and Michael Kiely at UHY Hacker Young have been appointed to trade the commercial printers while working to secure its sale. It is believed four interested parties have already been identified.
Joint managing director David Collins said, "We have the full support of our customers; this was a move we had to take to protect the business. We want to have as quick a transition as possible, but I am confident the business will go forward in some form." The reasons for the move into administration were not disclosed.
Established in 2004, Alito Color Group supplies print-related services across web, sheet-fed, digital, transactional and direct mail, according to its website.
Northampton-based Flair Press (UK), which trades as Alito Web, is expected to follow Alito Color Group into administration shortly.
Alito Color Group is owned by Alito Investments Limited, which is owned by chairman and founder Terry Brady and joint managing director David Collins.
Revenues at Alito Color Group have seen a steady increase over the past three years, with a rise from £8.9 million for the year to 31 March 2008 to £9.36 million for the same period to 2009.
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